Jindal Steel Returns to Profit in Q4 FY26, Driven by Angul Expansion and Strong Demand

Jindal Steel Ltd has reported a strong turnaround in the January to March quarter of FY26, posting a consolidated net profit of Rs 1,045 crore compared to a loss of Rs 339 crore in the same period last year. The improved performance reflects a combination of higher production, supportive pricing environment and the successful ramp-up of its Angul plant expansion.

The company’s consolidated revenue rose by 23 percent year-on-year to Rs 16,218 crore during the quarter, indicating steady demand across key steel segments. Adjusted EBITDA stood at Rs 2,647 crore, highlighting improved operational efficiency and better cost management.

A key factor behind the improved profitability was the imposition of safeguard duty on certain grades of imported flat steel. This move helped stabilise domestic steel prices and supported margins for producers like Jindal Steel. The company also benefited from higher volumes, with sales increasing 15 percent sequentially to 2.62 million tonnes, while production rose to 2.65 million tonnes.

The Angul plant expansion played a crucial role in this performance. With the project now fully operational, the plant’s capacity has doubled to 12 million tonnes per annum, taking Jindal Steel’s total crude steel capacity to 15.6 million tonnes. This expansion is expected to strengthen the company’s position in both domestic and export markets.

For the full financial year FY26, Jindal Steel reported an 8 percent increase in consolidated revenue to Rs 62,412 crore. Net profit for the year grew by around 20 percent to Rs 3,367 crore, supported by higher volumes and improved realisations. The company also announced a final dividend of Rs 2 per share.

However, net debt rose to Rs 16,019 crore as of March 2026, reflecting continued capital expenditure of Rs 2,573 crore during the year. Going forward, the company is expected to focus on optimising its expanded capacity and maintaining cost efficiencies amid evolving market conditions.